Timmins & Beardmore - Northern Ontario

Focused on becoming a near-term Gold Producer

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Message: Re: Killick, How was the show? Rico
1
Mar 05, 2009 03:41AM
1
Mar 05, 2009 12:07PM

ome tell me I should make a business out of giving advice. I tell them there is enough pressure in investing my own money let alone worrying about theirs. So please like everything else you read on the stock boards take anything I write with a large dose of salt. Rico I am not directing the last bit at just you of course but anyone who reads this. My purpose for posting this and my report on the Show is to try to contribute to the board in order to show my appreciation for all of the contributions yourself and others have made in the past.



Funny you should mention that. I had the pleasure of meeting a gentleman who is a pillar in this industry and has brought several companies to the development stage that were eventually bought out.

Near the end of our conversation I sheepishly asked him what companies were good investment prospects in the near future.

His reply ... (paraphrased) ... " I stopped giving friends tips because they don't understand the mining exploration business and always got mad when a stock I recommended went up and proceeded to fall. What they don't understand is it takes several years from initial discovery stage to mining stage and that most mining stocks up until they get past the scoping/feasibility stage spend 90% of the time doing nothing and the other 10% either going up or coming back down."

reading between the lines ... you either

1. buy a company because you believe in management and they will eventually find a property that can be developed ...and you hold for several years.

or

2. you buy a company that is approaching or in the feasibility stage and get it on the road to production/ buyout

or

3. you play the ups and downs of the early stage juniors and hope that one day you get the big one ...

as for recommending something to a friend, I've done it and paid for it, won't do it again. If you're doing #3 you need to be paying attention and you need to be prepared to lose your shirt.

I've lost a few shirts but the drawer isn't empty yet





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Mar 06, 2009 04:12AM
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Mar 06, 2009 05:34AM
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